Like most retirees, you've worked hard your whole life and now you're looking forward to starting a new chapter of your life in a retirement home community. However, purchasing a retirement home can be a daunting experience and the cost of making a bad decision can impact your entire family. That's where this helpful book comes in. Retirement-savvy author Richard Andrews offers straightforward advice on making wise financial and lifestyle decisions that could change your life for the better.
Covering everything from what to expect from your lawyer and accountant to negotiating with retirement home community operators, this guide dives into the basics of purchasing a home in a retirement home village, and adapting to your new lifestyle.
- Walks you through complicated retirement village contracts and what they mean
- Offers useful tips for choosing a retirement village that suits your needs
- Includes suggestions for selling your current home, downsizing your possessions and adjusting to a new life
- Looks at the perks of living in a retirement village community: great company, security, and homes that are designed for easy living
Table of Contents
About the author ixIntroduction xi
Part I: The retirement living industry 1
1 The evolution of retirement living in Australia 3
2 What is a retirement village - in legislation and practice? 11
Part II: Assessing your options 21
3 Working out what you want 23
4 Choosing a location 31
5 Affordability 39
Part III: Doing your research 45
6 Retirement home research 47
7 Types of retirement accommodation 57
8 Retirement village operators 61
9 Retirement home purchase arrangements 67
10 Investing in the retirement living sector 77
Part IV: Analysing your research 83
11 Fees and charges 85
12 Analysis and evaluation 99
13 Capital growth 119
14 Buying off the plan 129
Part V: The purchase 135
15 Selling your home 137
16 Contract time! 145
17 Negotiating tips and key contract terms 153
Part VI: Living and leaving 169
18 The big move! 171
19 Assimilating into village life 177
20 Links and resources 195
21 The final word 209
Appendix A: Preference questionnaire 211
Appendix B: Individual village questionnaire 217
Appendix C: Research comparison worksheet 221
Appendix D: Moving house checklist 229
Appendix E: Change of address checklist 233
Glossary 235
Index 241
